Okay, Warren Buffet and Jack Welch are talking on CNBC. Here is what I have gleamed from their conversation:
1. The death of Osama Ben Laden will offer a temporary euphoria to the U.S. economy, and a boost to Obama’s popularity
2. The increase in the price of gas sucked over $100 Billion out of the U.S. economy in the first 3 months of this year
3. Changing the tax benefits oil companies get for drilling at this point would increase the cost of oil and gas at the pump
4. In order to lower our dependence on foreign oil we need innovation like Jobs and Gates brought to computers
5. The economy and employment are not likely to boom unless home construction recovers fully
The $100 billion dollars really caught my attention. That’s $100 billion dollars consumers and companies spent on the increased price of gasoline that they didn’t spend on goods and services.
I’m no economic guru, but that can’t be a good thing.
John Broussard
Assistant State Treasurer
Chief Investment Officer
State of Louisiana
Department of the Treasury
Ph: 225-342-0013
Fx: 225-342-9721
Email: jbroussard@treasusry.state.la.us
No comments:
Post a Comment